WEMIX

On April 10th at 16:56(KST), Korean exchange GDAC, where WEMIX is listed, announced an urgent notice regarding a hack including the following details; ● Custodial assets on the exchange were hacked and approximately 23% of the total assets in custody by the exchange was withdrawn to unidentified wallets. ● 10,000,000 WEMIX (WEMIX3.0) that had been deposited to the exchange by customers of GDAC is among the list of assets that were withdrawn through the hack.▶<a href="https://support.gdac.com/hc/ko/articles/17389345782041--%EA%B8%B4%EA%B8%89%EA%B3%B5%EC%A7%80-%EC%9E%85%EC%B6%9C%EA%B8%88-%EC%84%9C%EB%B9%84%EC%8A%A4-%EC%9D%BC%EC%8B%9C%EC%A4%91%EB%8B%A8-%EB%B0%8F-%EA%B8%B4%EA%B8%89-%EC%84%9C%EB%B2%84%EC%A0%90%EA%B2%80-%EC%A7%84%ED%96%89-%EC%82%AC%EC%9C%A0%EC%97%90-%EB%8C%80%ED%95%B4-%EB%A7%90%EC%94%80%EB%93%9C%EB%A6%BD%EB%8B%88%EB%8B%A4-" rel="noopener noreferrer nofollow"> Link to the original announcement</a>Regarding the hack on GDAC, ● The incident occurred on the exchange and does not directly affect the WEMIX3.0 mainnet nor its native platforms and DApps which include WEMIX PLAY, NILE, and WEMIX.Fi. ● The quantity and the condition of Foundation-managed WEMIX, as well as the security and safety of the platforms, DApp services, and smart contracts are not affected by this incident. ● The WEMIX3.0 ecosystem continues to be governed, secured, and verified by the 40WONDERS.Nevertheless, the Foundation has taken the following measures based on the request of the exchange to assist with community stability and investor protection; ● Immediately following the notification of the incident by the exchange, the ER(Exchange Response) team spread the news of the incident to all global exchanges where WEMIX is listed, and blocked deposits and transfers from suspicious wallets. ● The ER team had also notified WEMIX bridge service providers(Multi-chain and Orbit bridge) integrated on WEMIX3.0 mainnet of the incident and requested for an increase in security measures to be implemented to verify all transaction attempts made from and to suspicious wallets. ● Liquidity provided for Uniswap V3 via the WEMIX-USDC pair has been temporarily withdrawn to prevent liquidity depletion caused by fraudulent transactions. ● The Foundation is also proactively and continuously monitoring transactions of suspicious wallets and is fully prepared to cooperate with the exchange as well as any associated organizations, agencies, or relevant regulatory bodies aligned with this incident.It is truly unfortunate that such an incident had occurred on an exchange, where many investor assets are stored with the expectation that the strongest security systems and protection measures are sought to be in place.However, it is important to note that this incident, although very unfortunate, had occurred through a single exchange. The mega-ecosystem built on WEMIX3.0 network is founded upon the philosophy of transparency and security above all else, and therefore, all foundation as well as community assets existing on our network are safely protected.The WEMIX team will do its best to minimize the potential negative impact to the WEMIX community and investors while cooperating actively with the exchange and other relevant agencies, upon their request, to handle the incident promptly.We sincerely hope that the GDAC exchange may resolve this incident as swiftly as possible.Thank you WEMIX TeamWEMIX Medium : <a href="https://medium.com/wemix-communication/foundations-position-on-the-recent-gdac-korean-exchange-hack-d288cc48129e" rel="noopener noreferrer nofollow">https://medium.com/wemix-communication/foundations-position-on-the-recent-gdac-korean-exchange-hack-d288cc48129e</a>WEMIX Communication Channels: <a href="https://twitter.com/WemixNetwork" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://medium.com/wemix-communication" rel="noopener noreferrer nofollow">Medium</a> | <a href="https://t.me/WEMIX_ANNouncement" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://www.facebook.com/WEMIXBlockchain/" rel="noopener noreferrer nofollow">Facebook</a> | <a href="https://www.reddit.com/user/WemixNetwork/" rel="noopener noreferrer nofollow">Reddit</a>

Foundation’s position on the recent GDAC(Korean Exchange) hack

WEMIX

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